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2007/8 Module Catalogue
 Module Code: ENG3096 Module Title: ENTREPRENEURIAL BUSINESS DEVELOPMENT
Module Provider: Engineering Teaching Group Short Name: SE5303 Previous Short Name: SE5303
Level: HE3 Module Co-ordinator: HOWARD MK Mr (SoM)
Number of credits: 20 Number of ECTS credits: 10
 
Module Delivery
Autumn and Spring Semesters
Assessment Requirements

Methods of Assessment and Weighting

Components of Assessment

Method(s)

Weighting

Coursework

Demonstration of idea generation

5%

Coursework

Demonstration of market research and competitor evaluation

5%

Coursework

Demonstration of operational and financial needs

10%

Coursework

Business Plan

60%

Coursework

Presentation of the business plan

20%

The assessment strategy is designed to test the ability of students to present an innovative idea in the form of a comprehensive business plan. All business plans are sent to an expert venture capitalist for assessing and marking. Those meeting a high standard (normally indicating a first class mark or one at the top end of a 2-1 classification) will be chosen by the venture capitalist to be presented to him, while the remainder will be presented to members of the internal EBD team. Along the route to the preparation of the business plan, there will be workshop sessions where marks can be gained for demonstrating progress being made.

Module Overview
Prerequisites/Co-requisites
Completion of the progress requirements of Level HE2 and module SE5212
Module Aims

Rationale
This module follows from the second year introductory course in entrepreneurship – theory and practice. It is designed to provide a framework for students who may wish to develop and start their own business some time in the future

Aims
To show students, endowed with entrepreneurial spirit, how they could convert their ideas into a viable and profitable business in the technology or IT sectors.

Learning Outcomes

Upon successful completion of the module, students will be able to:

  • Appreciate the needs of the market place and use that knowledge to spot gaps and develop ideas (c).
  • Understand the importance of teamwork and human resource issues related to business (k).
  • Understand the basic principles of entrepreneurship, the ethos of owning and running a business and be able to use basic market research techniques to justify an opportunity (k).
  • Be able to research, and develop a strategy, to beat the competition(t).
  • To understand the sources of finance for entrepreneurial businesses and negotiating techniques aimed at minimising personal risk (k);
  • To put together a comprehensive business plan and to be able to present that plan , in a professional manner, to either a private equity provider or banker (p).
  • To appreciate the legal implications of setting up a business, covering issues such as intellectual property rights, MBO’s and stock exchange regulations (k).
  • Assessment Criteria
    At the beginning of the module all students are given a module booklet (updated annually) which shows seven stages from the generation of an idea to starting a viable business. These seven stages are:
  • Formation of teams and generation of ideas.
  • Basic research – assessing the critical factor.
  • The competitive position and assessing possible gaps.
  • Market testing.
  • Legal, regulatory and operational issues.
  • Business start-up.
  • Acquiring finance.

In order to achieve the threshold standard for the award of credits for this module, the student must be able to demonstrate that they have understood and followed each of the above stages to prepare their business plan. These stages relate to the learning outcomes described above.
Module Content
Indicative content

Semester 5

Week 1: Introduction

Week 2: Entrepreneurship and new venture creation

Week 3: Team building and generation of ideas (BUSINESS PLAN WORKSHOP 1)

Week 4: Researching the idea and positioning for competitive advantage

Week 5: Strategy for embryonic businesses

Week 6: Market research and market intelligence for small businesses

Week 7: Barriers to growth and strategies to attain competitive advantage.

Week 8: Creating a business

Week 9: Strategy planning and sources of finance

Week 10: Final evaluation and the business planning process

Week 11: Financial planning and accounting for taxes

Week 12: How business plans are assessed

Week 13: BUSINESS PLAN WORKSHOP 2

Semester 6

Week 1: Financial planning using computers and spreadsheets

Week 2: Venture capital

Week 3: Negotiating for funds

Week 4: The deal process and deal structures

Week 5: Completion procedures

Week 6: BUSINESS PLAN WORKSHOP 3

Week 7: Law – Intellectual property rights

Week 8: Legal aspects of managing the deal (including MBO’s)

Week 9: The legal aspects of setting up and buying/selling businesses

Week 10: Revision case studies

Methods of Teaching/Learning

The teaching and learning strategy is designed to equip students with the knowledge and confidence to develop a business plan that would enable them to start a real business. Those teams producing an exceptional business plan will have the opportunity to present their plan to City financiers, with legal and financial support available to them. The team producing the best business plan is awarded the EBD prize, the value of which is dependent upon the success, or otherwise, of the EBD investments.

The teaching and learning methods include:

Lectures containing practical examples as well as conceptual explanations;

Weekly tutorials, including directed reading from selected textbooks, and a programme of case studies;

Total student learning time 200 hours.
Selected Texts/Journals
Recommended background reading

Carson D et al, Marketing and Entrepreneurship in SMEs, Prentice Hall, 1995. (ISBN 01315 09705)
Coopey R & Clarke D,  3i Fifty Years Investing in Industry, Oxford Univ. Press, 1995.  (ISBN 01982 89448)

Wickman PA,  Strategic Entrepreneurship, Pitman Publishing, 1998.  (ISBN 02736 27139)

Hamel G and Prahalad CK, Competing for the Future,  Harvard Business School, 1996.  (ISBN 08758 47161)

Supportive
Kaplan J, Start Up, Warner Books, 1994. (ISBN 07515 17135)
Riley M, Managing People, Butterworth-Heinemann, 1995.  (ISBN 07506 2289X)

Required reading

Kirby DA, Entrepreneurship, McGraw-Hill Education, 2003.  (ISBN 00770 98587)

Hamel G,  Leading the Revolution, Harvard Business School Press, 2000.  (ISBN 15785 11895)
Last Updated
15th August 2006